Sberbank Among Russia’s First Crypto Exchanges as New Law Begins

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What is the background for Russia officially approving nine cryptocurrency exchanges and custodians?

What changes are expected with major Russian banks like Sberbank entering the cryptocurrency market?

How have the regulations regarding cryptocurrency use in Russia changed?

Sberbank Among Russia’s First Crypto Exchanges as New Law Begins — Image source: Unblock Media

Central Bank names Sberbank and eight others as first official crypto platforms
Registered firms must meet strict compliance by September 2027; crypto payments still banned

On October 7, 2026, Crypto.news reported that Russia took its largest step yet in digital asset regulation, with the Central Bank officially registering four cryptocurrency trading operators and five digital custody providers under the new “Digital Currency and Digital Rights” law. Sberbank, Russia’s largest bank, is among the approved custodians and plans to launch crypto trading and custody services—including Bitcoin, Ether, and USDT—starting December 1, 2026.

All registered firms must now follow updated transaction and accounting regulations defined in the new framework. They are required to be fully compliant by September 1, 2027.

The Central Bank states this framework enables regulated trading, custody, and investment in digital currencies. However, using cryptocurrencies for payments remains prohibited in Russia.